Brexit could affect customer sentiment in Europe according to Esprit CFO

As political leaders continue to outline Britain’s post-Brexit plans, clothing retailer Esprit has warned that the UK’s vote to leave the EU may affect consumer sentiment.

Thomas Tang, Esprit's chief financial officer, sent an email to Reuters this morning (30 June) saying that the political uncertainty in the aftermath of the vote could create “risk for an impact on the general consumer sentiment across Europe, where the majority of our business is located, but it is impossible to predict its timing and reach.”

"We obviously remain attentive to the developments in this most important matter... As for any broader impacts on the business, there are still too many uncertainties,” he added.

Esprit makes over 80 per cent of its sales in Europe, with less than one per cent of its revenue coming from the UK.

The result of the EU referendum has caused ripples in the global financial market, with the pound falling to its lowest level in 31 years.